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tv   Cross Talk  RT  January 3, 2018 3:30pm-4:00pm EST

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it says people have been swarming the streets both against and in support of the government people died the tweet hasn't gone unnoticed in iran urging against the violence president rouhani denied trump the right to sympathize with the nation well when done with the middle east trump couldn't help but pay the classic twitter tribute to his one and only rocket man. sanctions and other pressures are beginning to have an impact on north korea soldiers are dangerously fleeing to south korea rocket man now wants to talk to south korea for the first time perhaps that's good news perhaps not we will see well apparently this was donald trump's knee jerk reaction to south korea offering to hold high level talks with the north after pyongyang suggested the countries should meet to discuss the next olympics it's not government policy it's the. ravings of a person who speaks before thinking tweets before thinking in
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a one way or hope that the people on the receiving end of these things would take them with a grain of salt because. you know trump may say those things but he can't act on them because he's got a whole bureaucracy behind him that doesn't agree with them so. it's very destabilizing and i think it's undermining u.s. ability to negotiate solutions to problems so whatever policy donald trump is concocting stirring trouble on twitter is something that is going to stay it was done of. years we heard of all the world leaders north korea's kim jong un as perhaps being criticized the most in terms tweets and after the isolated country's leader issued new year's day need clear warning to washington trump was keen to hit back. the entire u.s. mainland is within the range of our nuclear strike and the button is always on the
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table in my office space you clearly know that this is certainly not a threat but rather a reality when someone from his depleted and food starved regime please inform him that i too have a nuclear bomb but it's a much bigger and more powerful woman his and my bomb works this is certainly not anything to joke about but i think the situation despite the confrontational rhetoric has been step ally's somewhat there's a recognition that there's a stalemate rex tillerson a few weeks ago did indicate the possibility of negotiations even without preconditions donal's from. this kind of talk remains popular with his right wing supporters certain me donald from at this state does not believe that he is ready to make the first small so perhaps a tool careers may make the first move other developments to tell you kim jong un
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has now reopened the cross border communications link with south korea and what's being seen as a significant diplomatic breakthrough but all that said the standoff between the u.s. and north korea looks set to continue into twenty eighty after what's already been twelve months of personal attacks and vicious threats from both sides. the year of strategic patience. with the north korean regime has failed. what's. best not getting what threats to the united states. they will be met with fire and fury. the u.s. neglects the international community's will establish peace on the korean peninsula behave like children fighting each other in kindergartens and nobody can stop them . and we can't have mad men
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out there shooting rockets all over the place we will have no choice but to totally destroy north korea. rocket man is on a suicide mission for himself no one of them trump himself is on a suicide mission ahead and i know you've. got a plot you know we need to pause we need dialogue. he's a sick puppy. the seventy's whole world changing events but it was also a year when it was sometimes hard to tell fact from fiction the fake news. and global news coverage more than ever didn't last year next jacqueline berger explains what propelled it into the mainstream media. fake news the term that has filled the headlines and your social media feeds for the past twelve months has been deemed two thousand seventeen's word of the year at least by collins dictionary they should realize and need to read truthful facts and i called say
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that sad which is of going on strike. so it's news stories all sick. and the mainstream media would have you believe that fake news goes hand in hand with topics such as russia putin and the kremlin fake news that's being spread by russia fake news has dominated the true had lines fake news spread by russia big news fake news kremlin spread misleading or otherwise fake news certain outlets even to the battle against the fake news phenomenon to the front lines this is an apple. some people might try to tell you that it's a banana you might even start to believe that this is a banana. but it's not. is an apple. facts first should go without saying but the mainstream media have found themselves in the wrong on a staggering amount of occasions even c.n.n.
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has been guilty of it they were forced to retract their report on a connection between anthony scaramucci who was on trump's transition team and a russian investment fund manager issuing an apology for the false story three people lost their jobs over that one but of course there was the breaking news one in september by most major outlets in the u.s. dropping the bombshell that the russians had attempted to hack the election systems in twenty one states caught red handed it was the evidence everyone had been waiting for to prove the russians did it until one by one states came forward saying no hack here and the story of two thousand and seventeen quickly crumbled onto december and some of america's most influential news outlets spread another explosive and one hundred percent false news story to millions yes the wiki leaks token of help to the trump campaign and the hacks d.n.c. emails wiki leaks equals russia therefore one. plus one equals three and the kremlin and trump are in cahoots message sent in the final stretch of the twenty sixteen campaign if this e-mail on september fourth they gave donald trump his son
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and others the decryption key for hacked wiki leaks documents illusion question right because we could weeks was simply acting as an agent of russian intelligence the media frenzy was however short lived the files had in fact not been handed over before being made public but after so not the knockout blow to the president they were all hoping for surprisingly about the whole story was based on one e-mail from our random guy and somewhere in the build up to the revelation hitting the headlines numerous people had read the date incorrectly the list of fakes goes on and on especially for russia somehow in the mix and inflammatory claims centering on russia are some of the best click bait out there and that's despite one major outlet being caught admitting the hype was all just a big red herring what do you think's going to happen this week to be told russia. it was going to be really so perhaps the word of the year should be anonymous i grabbing headlines and allegations quickly turned to guilt despite no evidence all it takes is anonymous sources jacqueline's of the reporting coming up puts
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a sort of broad new year high dose of a deadly start for yemen to we'll tell you after this quick break. this periodic album number seventy nine that's unique attributes that make it great for money because without more in a vacuum it has got forty years of history to it it's evolved through all these technologies it's a unique protocol and it like it is attracting
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a huge amount of capital for for the for this achievement and you can't say that you can simply go out there and create another one there are competitors of course just like there are competing species on planet earth for energy and survival but there is only one the apex predator or that is at the moment before he dies from all the dark. and you watching out international think she can produce afternoon yemen has suffered its first deadly airstrike in twenty eighteen with more than twenty killed in the port city of hadera on new year's day in fact just a week ago three of the world's biggest humanitarian agencies joined together to highlight that yemen has passed the grim milestone of ensuring more than a thousand days of war explaining that three quarters of the yemeni population needs humanitarian aid and that about two thirds are deprived of food water and
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even basic sanitation. i am poor i have no tender i can live i suffer from the cold. i was given a place to sleep by some people to warm up on hot days we sleep right on the sidewalk. there is no how comes to very rarely once a year maybe but now we have no help or blanket as tattered fifteen people are sleeping on.
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the ukrainian army is going to see a military post in twenty eighteen at least according to president petro poroshenko he tweeted that ukraine's military budget is increasing to a record three billion dollars if all goes to plan and that the u.s. weapons there will be bolstered by locally produced hardware a potted history of the war in ukraine started in twenty fourteen after an uprising saw the government opposed but it was met with resistance in the country's pro russian east leading the much publicized conflict against government troops into regions the un says more than ten thousand people have been killed and whole campaign richard baca told us he thinks washington's weapons sales now there have got little to do with bringing peace. the aim here on the part of the u.s. government remains the same that it has had for several years and that is to attach ukraine not only to the european community which the u.s.
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doesn't care that much about but to bring the ukraine into nato as well which would pose a very great threat to russia if that were to take place considering that the i'm going house that's expressed from washington and from the nato headquarters is so prevalent so we can't really distinguish between draws some sharp between offense that in defense of weaponry in this case it's all of the offensive and defensive weaponry both necessary for any modern and forces. for syria and iraq twenty eighteen does mean emerging somewhat from the shadows of brutal rule changes there but few families of course we're left on scarred by what they went through and the horrors they saw a senior correspondent were has the story next to two young syrian girls struggling
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to survive he met them last autumn him after they've been left alone in the ravaged city of deer is or. meet sally she's five maybe six or perhaps seven she doesn't know and this market the streets home surviving isis's age of the resort was no mean feat so many perished as a result of starvation sickness violence. sally is a survivor she her sister and brother were abandoned by their parents years ago they divorced and left the children to fend for themselves. oh i'm. almost done with the land she spends her days begging stealing playing and surviving no easy lot for them
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in this life for my neighbors who knew their family have taken pity on the kids and have looks out for them but it's not easy. but i wanted to take her in and she kept escaping i sent people to look for her but she never stays in one place long show escapes. there. sally's sister all she has left since her brother died of starvation we found the older girl at the end of this gloomy bullet riddled carville is a room with broken windows in it leaves a young girl with only flies bloodstain mattresses for company.
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about a month ago sagitta who doesn't remember her age was brought in with a head injury when she fell she damaged an implant that siphons away the fluid different people tell different versions some say the full was accidental others attempted suicide but if fluids keep building and there will be consequences she will lose her sight hearing and the ability to swallow the pressure on her bringing is growing. in hospital i don't know she'll find no cure indeed as order as we were filming a nice a shell landed just a few hundred meters away sagitta needs to get to damascus to survive but lacking identification relatives and trapped in a war zone it's difficult to see how that's possible. sagitta doesn't get many visitors but there is one little person who
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always makes us smile. if left alone sagitta begins to scream and cry she needs people there is cool is for optimism. sagitta suffering has touched a chord action is being taken to get the girls out of bed as order but for now all they really have the side from promises and p.t. is each other or i guess the of artsy from there as or syria. so sad to say was it was three months ago i did want to leave it there one of the key was more news on it so we've got a little bit of positive news at least on youngster judy since that was filmed back in the autumn seems she has made it to damascus to put in some calls local source informed us she underwent some surgery there all spittle seems though she is now back in tears over this sister of the show any way look at it it's going to be an
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uphill struggle for those girls so tony eighteen brings them a bit of a brighter future and. if you not done so already don't get downloader up the new year why not try it out and keep in touch there are things we do without international monitors kevin zero in thank you so much for watching this latest live news bulletin about with more just over thirty. about your sudden passing i have only just learnt your yourself in taking your last bang turn. here at us we all knew it would i tell you i'm sorry. so i write these last words and helps to put to rest these things that i never got off my chest. i remember when we first met my life turned on each parent. but then my feelings started change you talked about more like it was again still
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some more fun to feel those that didn't like to question our arc and i secretly promised to never be like it's one does not leave a funeral in the same as one enters the mind it's consumed with this one. estate as there are no other takers. claimed that mainstream media has met its maker. los angeles the city of luxury and fame but also an alarming number of people living in the streets. the simple fact in elway's there is just not enough shelter even if people. the streets right now decided to come in there's nowhere to come in and it's been a struggle. to get this man from his own response to the problem and constructed dozens of tiny homes for people in need of shelter when you have nothing in order to go. you know having something like this may as well be
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a castle but do the authorities accept such solution. me house on a city parking space is not a solution to your craft to someone monitoring the site otherwise it will be a free for all and is there a better alternative to end the homelessness crisis. i had a great education a good job and a family that loved me. i never had to worry about how i would eat somewhere i would sleep. i'm facing christmas alone out on the streets of london. well you know . i cut the. pool you know to simulate it still give up food for the homeless. perks. but you don't really feel like some human being in that. and then. the guy just
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came over to me saw me and gave me this book. hello and welcome to cross talk where all things considered i'm diedre labelle bitcoin for some it's the perfect marriage of technology and finance for others it's a get rich scheme though no one can deny its market value was soaring and becoming an attractive alternative to the current global banking system is bitcoin
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revolutionizing the world. across talking bitcoin i'm joined by my guest firesign in new york he is a fund manager and author of the book planet ponzi in atlantic we have jeffrey tucker he is director of content for the foundation for economic education and in cambridge we cross to garrick hileman he is a research fellow at the university of cambridge right gentlemen cross-talk rules in effect that means you can jump in anytime you want i always appreciated gary let me go to you first in cambridge explain what is going on with bitcoin i mean i'm of the age and i used to work in finance ike i can remember the dot com bubble and then it's melt down here and not being very well versed in bitcoin what is going on here is this just speculation or is this the new shiny radiant future go ahead
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in cambridge. right i think i think a little bit of both to be honest and certainly we've seen you know some aspects of this story before as you mentioned you know after the dot com bubble exploded in two thousand two thousand and one there were a number of winners that emerged from that area and a number of new companies that were born after that have done quite well you know big has already been declared dead several times in two thousand and eleven wired wrote an article saying the rise and fall of a coin we saw the crash in two thousand and fourteen yet it keeps coming back so wouldn't surprise me if we have another crash maybe a few more in front of us but it does seem that there is something important happening here with regard to the future of finance the future of money yeah well at least a small number of people have become at least i guess technically in the cloud somewhere fabulously rich it's really an amazing story jeffrey i mean gary called this i think in an article a minor miracle is that it would you use the word miracle here let me go to jeffrey in atlantic. i read that article and i of i appreciate that term actually it kind
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of is nobody ever thought anything like this was possible before two thousand and eight before the white paper of two of october two thousand and eight we didn't really have the means to do what the block chain does today just for background to block changes the real underlying technology of decline in the real reason for its value going to just an expression of that logical value. allows us to do something we've always wanted to do with something actual but never had the ability to do it thanks to these distributed networks and cryptography we can do it now you know mitigates against jeffrey kind of put it in the same cli for me because you know i was in finance for a number of years and there's always you know what's it backed up by you know you know what are the assets you know you know you always look at that and then but would jeffrey just said they're kind of explains it it's the technology is the safety that's what backing it up here do you buy that because you know you can say this is a scheme it's a get rich but i mean there is something to it and people are making money here and
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you have to makes everyone interested to get involved in it if you have the means go go ahead mitch how do you explain it all. well i mean we need perspective i think bitcoin has come about in a time where the central banks reckless central banks around the world has distorted every market and too much credit too much debt and too much leverage have created instability in the financial markets so we need to add perspective so we need to look at risk versus reward with bitcoin and in the bitcoin trade so bitcoin has gigantic volatility you're seeing thirty percent moves either way in a day or forty percent moves for so it's not for the faint of heart so you know my perspective from an investor and being in the banking community internationally for thirty eight years you look at the iconic figures like jamie diamond who said it's a ponzi scheme and it's going to zero he's totally wrong but the establishment banks and the way that the fractional banking system works people want to escape from that people want to escape from the establishment but what we've got going on
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here just to be clear is we've got inflation in every asset class stocks are trading at stratospheric valuations apple has a market cap approaching eclipsing one trillion dollars facebook at six hundred billion so if you look yesterday a couple sorry if you look. recently you saw a pullback in the nasdaq the fang stocks facebook apple and all the technology issues they lost sixty eight billion dollars in market cap in a day where the market cap of bitcoin is what around one hundred sixty billion dollars so on a relative basis it's a much smaller move and it's a very emerging market so i think we've got to look at where we are in this in alternative asset class i mean you're looking at are a leonardo da vinci painting trade that run one hundred fifty million dollars so i mean we need to put it into the proper historical perspective now stocks are way overvalued so are bonds and so is property so people are looking to get out of the
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dollar system and i happen to agree you need to diversify but i think you should also get. some precious metals gold and silver which have been currencies for some hours and years i mean dollar is backed by fundamentally not nothing ok good let me go back to cambridge carol i mean there's a lot of people are saying that. large investors are getting involved in trysted in bitcoin is that distorting the price because they have the deep pockets that this price level to get into the market is there something behind out there that you know that because i having been in finance i mean this is this is speculation ok i mean that people are not buying on facts or buying on speculation right now go ahead in cambridge. right i think certainly the hedge funds the big whales that are coming in the billion the billionaires we read about you know are certainly influencing the price direction but i think there's still a lot of money on the sidelines i was at a hedge fund conference recently and less than twenty percent of of the funds in
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the room there are some pretty big funds in the room have taken a step into this space and i think the ones that have a lot of them have done so as individuals rather than putting their funds in because you know it's still very difficult to short yet there's major counterparty risk a lot of the exchanges cryptocurrency exchanges will do things like reveal their financials or audited financials to fund so things that you know hedge funds are used to having in typical markets they trade in are not in place yet here but they're coming if see i mean nasdaq do come into the market with futures platforms you know if things like e.t.s. and you know other things roll out bring more regulation to the space then i think you will see even more hedge funds come in the price you know could go either way frankly i think the investment playing field has been a bit lopsided in favor of the bowls and that could level and a lot of the hedge fund guys are passionate about crypto and frankly they would probably i think from a psychological perspective prefer to make money if it crashes on the way down the
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well that would certainly help them rationalize their lateness to the mark nick you know market you know jeopardy is very interesting is that it's i think one of the interesting phenomena about big calling is that it's a lock of regulation and going back what mitch had to say here and we have to remember this phenomenon came into being after the financial crisis crisis of two thousand and eight which the banks were responsible for and so it's an element of that here is because that the freedom of here but the go ahead jump in go ahead . yeah you know there certainly is the i think of the success of big kind is in part attributable to the fact that it has not been managed from the center is not been regulated and that allows a lot of innovation and for people to try out things you know you want to talk about market caps you can talk about one hundred fifty billion for that coin but really you have to look at the whole class of crypto assets right now and you're looking at last i checked about three hundred fifty billion once you include all
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the various tokenized block chan's that are out there all the various theri m applications of various all coins and we're just beginning to see things we're going to see things coming up within the next year like these lightning networks that are going to be used for small transactions that are going to fix the prevailing problems that exist in decline which is that the networks are vastly clogged right now and it's very expensive to send and receive bitcoin it's going so hard so fast as almost become unusable just by itself for regular small transactions that. are looking for things like oh yeah that's the reason why i never really got into it because it's not easy to move around lease i'm not adept at doing those kind of things or you know mitch another the other people are saying that this whole thing with the because it's really just an investment it's not really. a mechanism to buy and sell it is to park your money somewhere and leave it
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there because you don't trust the banks i mean it for it to be really universal you have to be able to be able to use your wallet as they call it you know and buy things and sell things it's not that easy to do it's not widely accepted you know many more innovative people do say they accept the go ahead midge. it's part of you know it's part of a diversification strategy where you'd have some big going to just sit on it not worry about what your basis was and whatever losses are you're going to eat the losses and if you get a profit out of it fine but you know it when you have that much volatility you know i disagree that the big hedge funds will get involved in this when you have a thirty percent volatility swing each direction so from peak to trough and back up again down and up again i mean no investor wants to tolerate that kind of volatility and how can you manage that kind of volatility becomes very difficult so are the hedge funds and the banks going to jump in head first up.

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